Short Interest in Monogram Orthopaedics Inc. (NASDAQ:MGRM) Declines By 26.1%

Key Points

• Short interest in Monogram Orthopaedics Inc. declined by 26.1% in August, with a total of 154,800 shares reported as short sold, equating to 0.8% of the company's stock.
• Institutional investors have shown increased interest, with Jane Street Group LLC and Crestwood Advisors Group LLC each making new purchases, while Northern Trust Corp boosted its stake by 110.6%.
• The company's stock rose 0.8% to $5.84 during midday trading, and it has experienced a significant increase to a market cap of $237.08 million.

Monogram Orthopaedics Inc. (NASDAQ:MGRM - Get Free Report) was the target of a large decline in short interest in August. As of August 31st, there was short interest totaling 154,800 shares, a decline of 26.1% from the August 15th total of 209,400 shares. Currently, 0.8% of the company's stock are short sold. Based on an average trading volume of 362,400 shares, the days-to-cover ratio is currently 0.4 days. Based on an average trading volume of 362,400 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.8% of the company's stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Monogram Orthopaedics in the fourth quarter valued at $25,000. Crestwood Advisors Group LLC purchased a new stake in Monogram Orthopaedics during the 2nd quarter worth $29,000. Orion Porfolio Solutions LLC grew its stake in shares of Monogram Orthopaedics by 15.4% in the second quarter. Orion Porfolio Solutions LLC now owns 13,850 shares of the company's stock valued at $40,000 after buying an additional 1,850 shares in the last quarter. Northern Trust Corp boosted its position in Monogram Orthopaedics by 110.6% in the 4th quarter. Northern Trust Corp now owns 45,873 shares of the company's stock valued at $109,000 after buying an additional 24,088 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its position in shares of Monogram Orthopaedics by 6.1% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 213,678 shares of the company's stock valued at $628,000 after purchasing an additional 12,328 shares in the last quarter. Institutional investors and hedge funds own 0.45% of the company's stock.

Monogram Orthopaedics Stock Up 0.8%

Monogram Orthopaedics stock traded up $0.05 during midday trading on Wednesday, reaching $5.84. 56,012 shares of the stock traded hands, compared to its average volume of 380,342. The stock's fifty day moving average is $5.48 and its 200-day moving average is $3.68. The stock has a market cap of $237.08 million, a P/E ratio of -11.67 and a beta of 0.69. Monogram Orthopaedics has a 12 month low of $1.92 and a 12 month high of $6.02.

Monogram Orthopaedics (NASDAQ:MGRM - Get Free Report) last released its earnings results on Friday, August 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). On average, equities analysts predict that Monogram Orthopaedics will post -0.49 EPS for the current fiscal year.

Monogram Orthopaedics Company Profile

Monogram Orthopaedics, Inc focuses on developing a product solution architecture to enable patient-optimized orthopaedic implants. The company intends to produce and market robotic surgical equipment and related software, orthopedic implants, tissue ablation tools, navigation consumables, and other miscellaneous instrumentation for use in reconstructive joint replacement procedures.

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